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Pacific National Bank Provides $11 Million Acquisition Loan To Green Street In Williamsburg, Brooklyn

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FINANCED
$11,000,000

New York

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Development Site291,456 SF
Financed 11/20/2024
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Property Image
FINANCED

Pacific National Bank Provides $11 Million Acquisition Loan To Green Street In Williamsburg, Brooklyn

536 Metropolitan Avenue, 546 Metropolitan Avenue, 554 Metropolitan Avenue & 558 562 Metropolitan Avenue

See Similar Deals
Development Site291,456 SF
Financed 11/20/2024
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Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$37
Total Square Footage:291,456 SF
Transaction Type:Loan

The development site located at 536 Metropolitan Avenue, 546 Metropolitan Avenue, 554 Metropolitan Avenue, and 558-562 Metropolitan Avenue in Williamsburg, Brooklyn encompasses 97,152 BSF and 72,864 SF. The acquisition loan granted amounts to $11,000,000, facilitated by Pacific National Bank.

Summary of transaction details:

The transaction includes key representatives such as Angela Mulder, who acts as the loan officer for the lender, and broker Jonathan Bodner, who facilitated the loan process. The parties involved are structured around the acquisition of the development site, emphasizing the roles and responsibilities held in this closed transaction.

Players

8 deals$376.2M volume
BROKER

Pacific National Bank
LENDER

Details

FINANCED
IMAGE: Jonathan Bodner, Daniel Greenberg, Derek Greenberg, Joshua Greenberg, Warren Silverman & Angela Mulder DATE: 11/20/2024 ADDRESS: 536 Metropolitan Avenue, 546 Metropolitan Avenue, 554 Metropolitan Avenue & 558-562 Metropolitan Avenue MARKET: Williamsburg, Brooklyn ASSET TYPE: Development Site ~ BSF: 97,152 ~ SF: 72,864 LENDER: Pacific National Bank LOAN OFFICER: Angela Mulder ([email protected]) LANDLORD: Green Street BROKER: Jonathan Bodner LOAN AMOUNT: $11,000,000 LOAN TYPE: Acquisition

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$11,000,000.00

Monthly NOI$73,333.33
Monthly Debt Service$69,527.48
Change in Cash Flow$0.00
Refinance Proceeds$0.00